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FIRST EDITION
The
Supreme Court
DUNLOP
Hongkong Telegraph. =
C. E. WARREN & CO., LTD. FOUNDED UNI
.
China Building
Tel. 20269
No. 14013
五拜禮 號八七月六英港香
FRIDAY, JUNE 28, 1935.
日八廿月五
SINGLE COPY 10 CENTS 130.00 PER ANNUM
provides the greatest possible
TYRE ECONOMY
CHARGES BRITAIN BLOCKING U.S. SILVER PLANS
SENATE ACTION STIRRED UP
FIGHT FOR HIGHER METAL PRICES
"VICIOUS PROPAGANDA” WEAKENS MARKET
Washington, June 27. Senator Elmer Thomas, Democrat of Oklahoma, in an interview by the United Press here to-day, said, "The vicious propaganda against the United States silver programme, plus the dormant policy of the Treasury, are largely responsible for the decrease in the world price.
"Britain is bitterly opposed to our silver programme because of the effect the advance in prices has had on the Indian rupee. Consequently Great Britain is sponsoring the propaganda against policy with telling effect."
our
"In addition, every European silver operator knows the Treasury's stand as regards the silver programme. When the banks which usually buy for the Treasury fail to make purchases, operators know that the United States is off the market and they sell short in silver."
Senator Thomas is preparing a petition to President Roosevelt re- questing that the Congressional in- tention of increasing the price of silver and the purchasing of up- preciable quantities be carried out. So far twenty-eight Senators have signed the petition.
The petition reiterates the bene fits to be obtained from such pur- chases, especially to American agriculturists, through increasing the monetary value of Chinese, Egyptian,Indian and Mexican
coins.
The petition adds: "When the value of their money is raised the cost of production is raised, anto- matically lowering the differential between the cost of American cotton. and the cast of foreign modities."-United Press.
SUPPLY AND DEMAND
Com-
Washington, June 27.
BRITAIN URGED TO RE-ARM
PUBLIC OPINION
CHANGING
'GREAT PART TO PLAY
¦
Fred Perry
Clowns Way To Victory
FORCED TO FIGHT
BY VAN RYN,
COMPETITION NARROWING
Lannion, June 27.
ני
Sixteen thousand of the 23,000 [persons who parked the Wimble
don stadium to-day watched the bulder, Fred Perry
Great Britain, defeat the challeum of the young American Davis Cup star, Van Ryn in bitterly contested match.
Van Ryn's volleyung was daringį and he was almost impregnable at the net. Perry under-rated hisi
h opponent.
1 the At 4-6. In the first set to him fourth set, when Perry was leading by five to three and was playing for match point, he angled the balt and ran to the net with outstretch- nd hund. He thought he had won! the match, but the point was given,
But,
Thereafter Perry clowned his) way through another tem Kames. The complete game 4-6, 6-1, 6-3, 19-8.
score wa
The British stur thus enters thei
final stages of the tournament with the last sixteen survivors, whe in- elude:---Sidney Budge, buth Americans, H. C. Hop
}{ teni
Donald
man, MeGrath, both of Australia, and E. D. Andrews, New Zealand.
In a later game Sharpe, of Great Britain, advanced to the next: round by eliminating Stefani Italy, in five sels. The neares were:--8-5, 3-6, 6-1, 3-6, 7-5.
Von Cranim, the German are. beat Caska, Czecho-Slovakia, 9-1. 1-6, 6-4, and Austin beat Musgrove,
Viscount Cocit, who has announced
that the Peace Ballot has resulted in
an overwhelming majority favouring British support of the League of Nations and all-round disarmament by finternational agreement.
firy
FRANCE ATTACKS ACCORD
BRITISH POLICY CRITICISED
VOTES FOR DEFENCE
(Special to "Telegraph")
J'virgraph. .opyright Tricgraphic
South Afrien, giving away our set! Merage Drianer, 1894. Hereived. June 6-3, 6-0, 3-4, 6-4,
G. P Hughes. Great Britain, Menzel, Czecho-Solvakian champion, Crawford, the Australian strong- mm, Mako, American conqueror of the Japanese hope. Yamagishi, also reached the last sixteen
WOMEN'S MATCHES
Lay.
Mr. Helen Willa-Moody. onrite for the women's title, de- Lonlon, June 27, “
feated Miss Yorke of Great Britain, A National Defence Loto "en-] 6-3, 6-3, and her team-mate Miss abling us to pull up to mar proper Helen facols, beat the Dutch cham- position in the world and put our pin. Miss Conquerque, 8-6, 6-4.¦ Mr. Henry Morgenthau, Serre jselves abreast of our great res | Miss Feriven of Britain accounted -tary of the United States Treasury,ponsibilities" was advocated by Mr. for Mrs. Sheppard-Barron after two i questioned at a press conference tå. Winston Churchill in a speech at ajstiff sets, 1-11, GAR All reached ! day respecting the cause of the re¦ dinner of the Ninctern Hundred the third round. cent decline in silver, merely re. | Club, # Conservative organisation. | Senorita D'Alvarez scratched marked:
in Lomloti, to-night.
against Susan Nort of Great Bri Mr. Churchill said that if the tain because officials refused to play her match to- Government
persevered in that allow her to course they would have the un-
MEN'S DOUBLES swerving support of the nation and the House of Commons.
"It is a question of supply and demand.-Reuter.
FIGHTING INFLATION
morrow,
25. n ..!
Brest, June 27
*
Operations U.S. PROTECTING
In Silver
Reviewed
wwwwwww
PAPER MONEY
LONDON'S MARKET NO MORE SUITS FOR
STEADY
SPECULATORS SELLING
London silver transactions, re- ported by Reuter, showed America bouvht extensively you. forty and that China bought and Fold. Speculators also sold, hut the market was steady.
After the othicial prier-fixing. America bought t one-sixteenths under the fixed price.
The New York silver WJI teady. but Bombay
market spot
silver, up to 74 at the close, was later officially down to 73 on
unles.
MOCATTA REVIEW
Messrs. Moratta and Goldsmid in their silver review for the past week, write
Indian selling has continued. but American buying has not been i keen muongh to hold the price of isilver.
China and local speculators Ihave also been sellers, though
there has also been some buying: on China account.
The ball account, though still very large, has been rather re- duced which, with the fact that' silver is being shipped away by American purchasers, gives the market a healthier appearance.
The weekly stocks totalled 69, 000,000 flue ounces.→Router.
GOLD RESERVES
Paris, June 27, The returns of the Bank France for the period ending June 20 show gold reserves totalling Strong criticism of Britain was 170,770,000,000 francs, an increase -expressed by the Minister of of 17,000,000 franes as compared !
Navy, M. Pietri, in connection with the
Anglo-German Agreement hure to-day.
Naval
with the previous week,
il
GOLD DOLLARS
RECOMMENDATION MADE TO CONGRESS
Washington, June 27. Legislation designed to tighten up any possible loopholes threatening the nation's new monetary system has been recommended to Congress by President Roosevelt. In a special message to both Houses the President declared:
"I believe important and definite action must be taken to eliminate any uncertainty with respect to the rights of holders of Government gold clause bonds to sue for payment either in gold or else for legal tender with an additional sum of 69 cents on every dollar.
"To this end I urge withdrawal by the United States of its consent to be sued upon its currency or its securities.
BRITAIN BACKING
LEAGUE
OVERWHELMING VOTE FOR PEACE
QUESTION OF SANCTIONS.
(Special to "Telegraph")
The total inte circulation is ! given as 80,703,000,000 francs,
[Hy Tetegraph. #decrease of 670,000,000 franes, as
The Minister stated that unfortunate aspect of the problem was that France might now have compared with the previous week, M
take into consideration
fo
R.A.F. PILOT KILLED
Holiday Crowds Sco Tragedy
London, June 27. Hundreds of holiday-makers on the Sussex coast to-day
Royal Air Saw
Force machine strike the sea and sink off Selsey Bill.
a
The local lifeboat was launched and recovered the body of Plot Officer N. D. Ashton, only occupant of the machine, which belong. ed to No. 43 Fighter Squadron.--British Wire-
Washington, June 27.
In the doubles contests, Comper The petition to force the Frazier-i "I was astonished to find in the and Lysaght of Great Britain de- Lemke inflationary Farm Mortgagest of His Majesty's ships parti-feated Kingsley and Itoh after five. Bill on the floor of the House of cipating in the Royal Review at gruelling sets. The scores were:- Representatives has obtained 212 Spithead the names of those which 6-1, 5-7, 6-4, 5-7, 6-1. Itoh was signatures.
I was fighting in the estimates to very effective in his net play and This is four short of the re-rebuild a quarter of a century ago," volleying and his returns were fast as light. But Kingsley, was weak quired number, whereupon niem said Mr. Churchill.
overhead. The British players were bers of the Administration quietly
Sir Bolton Eyres-Monsell, reply stronger physically and this gave persuaded four Representatives to ing to Mr. Churchill as First Lord them the match. withdraw their names, hoping to of the Admiralty, said there had Yamagishi and Nishimura, two head off an inflation fight.
heen a great change in the opinion very The Houso passed a resolution of the large mass of the people,vanced further at the expense of much fancied players, ad- for the extension of the temporary who, until recently, bad favoured Billington and Seath of Great Bri- Federal Bank deposit insurancë i unilateral disarmanent for Britain. (ain, winning in straight sets, 0-2, for sixty days, in the hope that "I think they now realise that if 6-4, 6-4. The Japanese showed bet- the Administration's Bank Bil. Britain is to play her part in col-ter temi work. Yamagishi at the which will make the
viously had not been necessary. insurance sective security it must be a large base the und Nishimura at the net permanent, will be passed by then, part, and a strong one." he declared, hemmed the Britons to the base-
-United Preus.
line with speedy and brilliant drives down the centre.-Reuter.
"TAX THE RICH" PROGRAMME
-Renter
U.S. RAILROAD TO REORGANISE
BANKRUPTCY LAW PETITION
Washington, June 27. The Chiengo North-Western
SECURITIES ACT ATTACKED
HEARING DELAYED TILL JULY 8
Washington, June 27.
PROMOTER REFUSES After a three-hour conference with Mr. Morgenthau., Secretary
TO OBEY SUBPOENA of the Treasury, a group of inx experts of the Democratic section
Washington, June 27. of the House Ways and Means
The constitutionality of the Committee decided to delay the opening of the hearings on the Railroad Company has announced Securities Act is being attacked by Mr. J. Edward Jones, New reorganisation under the bank fused to obey a subpoena served by The House and the Senate have ruptey low.
the Securities Exchange Commis- accepted the conference report on Meanwhile, the Company will sion. the Industrial Disputes Dill, rontinue negotiations with Lond- He intends taking court action thereby completing Congressional holders in the hope that ajon the grounds that the S.E.C. has notion. The Bll now goes to tentative reorganisation plan mayoxercized legislative power which President Roosevelt for signature. be worked out within ninety days. (could not be delegated to it.- -Reuter,
-Reuter,
Renter
EL
Tax the Rich" programme until that it will me petition for York oil promoter, who has re
July 8.
texs.
pre-
M. Pietri questioned whether Britain had followed her tradi- tional prudence in entering into this agreement.--Reuter Special.
BIGGER VOTES
over
--Reuter.
Air Endurance Record
Copyright.
1
"I recommend, therefore, the enactment of legislation which will make clear that it is our fixed policy to continue to treat bond- holders of all our securities equal. ly and duiformly; and to afford any bondholder of any gold clause security who thinks he could, by any possibility, sustain any loss In the future, an opportunity to put himself immediately in a position to avoid such future loss, and to remove all possibility of any such suit as might be designed to ham- per the Government In the ad- ministration of public debt and in financing its ordinary emergency. ixpenditures."
The President recommended the jimmediate onactment af legisla
tion: first, authorising the Treasury Secretary, at the request Inf holders of gold clause securities of the United States, to make pay- Zelegraphisment therefor in cash, dollar for, Ordinner, 1896. Received. Juke dollar, with accrued interest, or, London, June 27.. at the holders' direction, to ex- Nearly 12,000,000 - votes were change such securities for поп- cast upon each question asked in gold clause securities with the the National Peace Ballot and the same interest rate and date of results were announced by Lord maturity; second, terminating any Cecil #l an enthusiastic mass contract which the United States meeting in the Albert Hall to may voluntarily have given to be night.
sued on its securities, coins or The final figures. showed over currencies: and third, reaffirming 11,000,000 votes were cnst in the fixed policy of the United make payment to all BROTHERS ALREADY favour of Britain remaining a mem- States to
ber of the League of Nations, holders of its securities, coins or 23 DAYS ALOFT Only 356,000 voted against mem-currencies on an equal or uniform
bership at Geneva.
dollar for dollar Балів, and Meridian, Miss., June 27.
Nearly 10,500,000 favoured anmaking appropriations available Two brothers, Fred and Al Key, all-round reduction of armaments for payments on this basis.
by international agreement, have beaten the world's air
against
* поев," 802,000
while endurance recurd, staying aloft | 6,500,000 voted in favour of the for 23 days, one hour, 41 minutes, prohibition of the manufacture of inherent right to sue the Govern- 30 seconds. They are still flying. armaments for private profits, ment," the President went on.
Their feat WOS tumultuously | with 775,000 against. acclaimed by 25,000 who gathered at the
IMMUNITY FROM SUIT
"There is no constitutional or
"On the contrary, the immunity To the question whether econo- of the sovereign from auit is a spectators acrodrome mic, non-military sanctions should here to watch their little plane, be applied to an aggressor nation, principle of universul acceptance, Ole Mississippi, make A
final 10,000,000 voted in the affirmative and permission to bring such suits and 635,000 in the negative. But is an act of grace with us which circuit of the 50-mile triangle.
Though tired and stiff the bru-only 6,750,000 voted in favour of may be granted or withheld by
Congress, military measures if sanctiona thers are continuing their flight were found necessary, and 2,351 of our currencies and securities "Not only justice to the holders in an endeavour to beat the 000 against..
DOLLAR DROPS
TWICE
MARKET WEAKER
TO-DAY
MASS MEETING
228593843202 7unofficial record of 26 days 23
who support and rely upon our Lord Ceet sald there was onts
uniform hours established by Britain's tonnage, which
Dale and high and bright spot in the inter-policy of equal and Jackson in 1930.-Reuter,
Butional sense, in that-Britain's treatment for all, but also the our entire people udvocacy of League membership Interests of hud grown
and require that the Government of more vigorous outspoken. He hoped the result the United States make it clear of the ballot would show the world that it cannot and will not consent that it can safely rely upon Bri. to use its courts in aid of efforts tisk support for a collective peace to sabotage the operations of the Government or ald in private system-Reuter Special.. Paris, June 27.
speculation.
and Repercussions of the Anglo-
"This proposal reasserts German Naval Agreement Bro
the makes definito London, June 27.
control of ovidenced by the tabling in the
Representatives of all the chief Congress over the securities and Chamber of three Bills involving
political parties, together with the money issued by the United States increased expenditure of
The Hongkong dollar declined Chinese Minister and other foreign
(Continued on Page 7.)* three milliard francs (£40,000,- | n farthing on opening this diplomats, sat on a common plat- 000) for national defonce pur-morning, the official rate being form at a mass meeting hold in 'poses, in addition to the 1935 2. 21⁄2d. Later, it dropped a
ANGLO-SPANISH TRADE appropriations.
ther farthing.
of the League of Nations- Union. It is proposed to alloente The business rates on opening
Viscount Cecil presided and an-
London, June 27. 1,106,000,000 francs to the Army, were 28. 2d. sollers and 2a, 2.-nounced the result of the Peace Colonel Colville to-day received 1,800,000,000 to aerial defence 13/168.. buyers.. Later,
the Ballot on questions concerning the at the Board of Trade the Spanish, and 200,000,000, franes to the respective ratea declined to 28. League of Nations, disarmament Government delegates who Navy-Router.
2.5/10d. and 28. 2%d. The and the international control of here to negotiate" a trade agree- armaments, Over 11,500,000 parti-mont. A general exchange of In London, silver prices rose cipated in the ballot, of whom the vlewa-look-place-and arrange- 1/18th yesterday, America vast majority voted in support of monta were made for a detailed- bought and sold, while speculators the League and all-round disarma-discussion of various aspects of sold. The market was steady. ment by International agreement. the negotiations.-British Wire-
(Continued on Page 7.) ・・・ ||lesa. Silver is very weak in Bombay.
—INCONCLUSIVE-TALKS-
Paris, June 27. The meeting between Mr. Anthony Eden and M. Laval, the (Continued on Page 7).
market is very engy.
fur the Albert Hall under the auspices
arc